Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High – Still a Buy?

Zions Bancorporation, National Association (NASDAQ:ZION) shares reached a new 52-week high on Monday . The company traded as high as $63.08 and last traded at $62.38, with a volume of 81547 shares traded. The stock had previously closed at $60.58.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZION. Compass Point boosted their target price on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Truist Financial raised their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI lifted their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.13.

Zions Bancorporation, National Association Stock Down 1.0 %

The stock has a 50 day moving average price of $52.11 and a 200 day moving average price of $47.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 5.46 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the prior year, the company posted $1.13 EPS. As a group, analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.43 dividend. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.81%. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Insider Buying and Selling

In other news, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,434,894.84. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,375 shares of company stock valued at $527,748 over the last ninety days. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently bought and sold shares of ZION. ORG Wealth Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $28,000. ORG Partners LLC acquired a new stake in Zions Bancorporation, National Association in the second quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the second quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association during the second quarter worth approximately $39,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Zions Bancorporation, National Association by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after purchasing an additional 372 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.